MAY 25, 2002

What? Again...

IT seems that rarely a day goes by at the moment when Arrows or an associated company is not in the High Court in London over one issue or another. In recent weeks there have been a number of hearings involving the team and Jos Verstappen, although these have been held "in camera" and cannot be reported upon, presumably as some aspect of the affair is covered by the confidentiality agreement in the Concorde Agreement.

Last week saw the Phoenix Finance Ltd. case in which Arrows boss Walkinshaw was involved and on Monday in Court 19 Mr. Justice Lightman will hear a case between Arrows Autosport Ltd., the team's previous holding company and a shareholder in the reorganized Arrows empire and Morgan Grenfell Development Capital Syndications Ltd.. This organization and sister companies were the shareholders in Arrows Autosport Ltd.